Gulf Of Maine Research Institute
- Assets
- $45.3m
- Revenue
- $15.5m
- Investments
- $1.9m
- Employees
- 111
- Location
- Portland, ME
- Founding
- 05/1996
- Data as of
- 06/2022
- EIN
- 01-0504905
Organization Overview
Gulf Of Maine Research Institute is located in Portland, ME. The organization was established in 1996. According to its NTEE Classification (D50) the organization is classified as: Zoos & Aquariums, under the broad grouping of Animal-Related and related organizations. As of 06/2023, Gulf Of Maine Research Institute employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Of Maine Research Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Gulf Of Maine Research Institute generated $15.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $13.1m during the year ending 06/2022. While expenses have increased by 7.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE GULF OF MAINE RESEARCH INSTITUTE (GMRI) PIONEERS COLLABORATIVE SOLUTIONS TO GLOBAL OCEAN CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HANDS-ON SCIENCE LEARNING EXPERIENCES FOR STUDENTS AND ADULTS AND SUPPORT FOR MAINE'S SCIENCE EDUCATORS.
RESEARCH THAT DEEPENS OUR SCIENTIFIC UNDERSTANDING OF THE GULF OF MAINE ECOSYSTEM AND ECONOMY.
SUPPORT FOR THE COMMUNITIES THAT DEPEND ON THE GULF OF MAINE, INCLUDING FISHERMEN, AQUACULTURISTS, AND SEAFOOD SUPPLY CHAIN BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald W Perkins Jr President/ceo | OfficerTrustee | 40 | $688,571 |
Elizabeth Greenlaw Chair | OfficerTrustee | 2 | $0 |
Margaret Angell Director | Trustee | 1 | $0 |
Julia Trotman Brady Director | Trustee | 1 | $0 |
Denise Deschenes Director | Trustee | 1 | $0 |
Jill Duson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Upswell Cohen Center New Programming And Other S | 6/29/21 | $291,704 |
The Marine Biological Association Of The Analysis Work | 6/29/21 | $138,698 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,848,964 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,947,790 |
| Noncash contributions included in lines 1a–1f | $1,326,049 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,796,754 |
| Total Program Service Revenue | $379,626 |
| Investment income | $162,729 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,942 |
| Net Gain/Loss on Asset Sales | -$16,680 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,490,107 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,476,821 |
| Compensation of current officers, directors, key employees. | $993,710 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,320,782 |
| Pension plan accruals and contributions | $217,918 |
| Other employee benefits | $1,429,165 |
| Payroll taxes | $374,303 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,779 |
| Fees for services: Accounting | $82,723 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,704,444 |
| Advertising and promotion | $0 |
| Office expenses | $269,966 |
| Information technology | $27,024 |
| Royalties | $0 |
| Occupancy | $717,959 |
| Travel | $177,819 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,637 |
| Interest | $21,783 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $262,918 |
| Insurance | $83,781 |
| All other expenses | $47,316 |
| Total functional expenses | $13,066,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,820,482 |
| Savings and temporary cash investments | $6,275,658 |
| Pledges and grants receivable | $3,768,694 |
| Accounts receivable, net | $1,580,964 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $156,586 |
| Net Land, buildings, and equipment | $16,755,812 |
| Investments—publicly traded securities | $10,010,157 |
| Investments—other securities | $1,903,487 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,006,002 |
| Total assets | $45,327,842 |
| Accounts payable and accrued expenses | $2,172,392 |
| Grants payable | $0 |
| Deferred revenue | $43,215 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $12,741,137 |
| Other liabilities | $17,155 |
| Total liabilities | $14,973,899 |
| Net assets without donor restrictions | $15,989,576 |
| Net assets with donor restrictions | $14,364,367 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $45,327,842 |